Business and Consumer Confidence Indexes both Higher in February

Written by: Editor

Posted: 2017-03-10

The indexes for consumer confidence and business confidence recorded by Statistics Denmark both had higher values for the month of February. Consumer confidence grew by 4.5 percent compared to the first month of 2017 while business confidence rose one point above the value for the previous month. This business sentiment index indicates a more positive outlook for those who wish to open a Danish company.

Consumer confidence up in February

Consumer confidence increased by 4.8 percent in February compared to the previous month, reaching its highest value in six months. The data reported by Statistics Denmark also shows that consumers had a more positive outlook on the country’s general economic state and believed that their personal financial situation would improve over the course of the next year.

The consumer confidence chart in Denmark recorded a high in 2015 and has seen a slight downward pattern since then. The improvement in February is an important one. The Denmark consumer confidence chart is based on the value of monthly consumer confidence.

Experts believe that private consumption will expand by 1.7% in 2017. Investors in Denmark can use the consumer confidence index as a guideline for adjusting production and manufacturing in the country.

Improvements in the business confidence index

The consumer confidence index was not the only one to record a more positive value in the second month of 2017. The business confidence indicator for manufacturing recorded a one-point growth compared to January. According to data also released by Statistics Denmark, Danish manufacturers reported more stable business conditions in February.

Experts believe that the fixed investment value will grow by 2.3% in 2017. Investments in Denmark are predicted to increase this year, having a preliminary value of 0.6 percent higher than the one predicted in January.

If you want to know more about investments in Denmark and the requirements toopen a Danish company you can contact us.